Bloomberg: Energy Future Seeks $4.4B DIP Loans
Bloomberg Energy Future Holdings lined up $4.4 billion of loans in the event the Texas power generator taken private in the biggest leveraged buyout ever files for bankruptcy protection.
Bloomberg said further that Energy Future said confidential negotiations with creditor groups to date had failed; a restructuring plan submitted by owners led by KKR & Co. and TPG Capital would have seen them retain 4 percent of the company’s equity, giving the remainder to senior creditors at Energy Future’s Texas Competitive unit.
Previously on abfjournal: Bloomberg: KKR, Goldman, TPG Join Fight Before Energy Future Bankruptcy, October 21, 2013
To read the entire Bloomberg article, click here.